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Agfa-Gevaert

Active Public limited companyfounded 1964active for 62 yearsSeptestraat 27, 2640 MortselKBO/BCE: BE 0404.021.727 subsidiary of Free Float#1 employer in Mortsel
Heads the group Agfa-Gevaert 62 companies in 37 countries
See the group

Lifetime

20 annual accounts with figures on one time axis, 45 filings since 1977
peak €2.02bn (2006)
€423.3m▼ 4.3%
lowest -€407.4m (2019)
-€58.0m▼ €2.6m
peak €1.50bn (2010)
€67.9m▼ 43.1%
€1.14bn▲ 8.8%
peak 3,944.6 FTE (2006)
1,420.4 FTE▼ 10.0%
Board47 names since 2004all names
8 directorsMRP Consulting BVBA and 7 others
Owners10 names in the annual accountsall names
Documentsfilings and deeds
06-07-202625 days before the deadline
2025financial year
Loss of €58.0mStaff from 1,578.2 FTE to 1,420.4 FTE1 statutory auditor appointed 17-06Appointment: MJP Management Services BV (independent director) 03-04Capital decrease of €160,794,611 21-03Capital decrease of €160,794,611 to €26,000,000 17-03

Key points

from the 2025 annual accounts

Equity

€67.9m from €1.50bn in 2010

Equity fell by 95% in 15 years.

Losses

-€1.31bn in 15 years
2011201320152017-407.4201920212023-58.02025

Every financial year from 2011 to 2025 closed with a loss. 2019 was the heaviest.

Debts

€1.14bn 89% of the balance sheet
Financial debts 59%Suppliers 4%Taxes and wages 4%Other 33%

€366,883 of the debts are secured on the company's own assets.

Staff

1,420.4 FTE from 3,944.6 in 2006

Between 2006 and 2025, 64% of the full-time equivalents disappeared.

Group

58 companies controlled

Heads a group. Known shareholders 100%.

Board

3 joined · 3 left

Board changed. Latest change 19-10-2026 · 7 in office.

Standalone figures, without subsidiaries

Checked score

65
Healthy
Financially stronger than 19% of large companies in chemicals (NACE 20)
Probability in this band: 0.55% to 1.5%
Bankruptcy probability within 12 months
0.9% Low
0%0.5%1.5%4%10%≥ 25%

The dashed line is the sector median: 0.3% across 44 companies (NACE 20, large).

About 9 in 1,000 comparable companies go bankrupt within 12 months (an estimate).

Last 24 months 12-2024: 0.8% 01-2025: 0.8%● unchanged vs 12-2024 02-2025: 0.8%● unchanged vs 01-2025lowest value 03-2025: 0.8%● unchanged vs 02-2025 04-2025: 0.8%● unchanged vs 03-2025 05-2025: 0.8%● unchanged vs 04-2025 06-2025: 0.8%● unchanged vs 05-2025 07-2025: 1.0%▲ +0.2 percentage points vs 06-2025 08-2025: 1.0%● unchanged vs 07-2025 09-2025: 1.0%● unchanged vs 08-2025 10-2025: 1.0%● unchanged vs 09-2025 11-2025: 1.0%● unchanged vs 10-2025 12-2025: 1.0%● unchanged vs 11-2025 01-2026: 1.0%● unchanged vs 12-2025 02-2026: 1.0%● unchanged vs 01-2026 03-2026: 1.0%● unchanged vs 02-2026 04-2026: 1.0%● unchanged vs 03-2026 05-2026: 1.0%● unchanged vs 04-2026 06-2026: 1.0%● unchanged vs 05-2026 07-2026: 1.0%● unchanged vs 06-2026highest value 08-2026: 0.9%▼ -0.1 percentage points vs 07-2026 09-2026: 0.9%● unchanged vs 08-2026 10-2026: 0.9%● unchanged vs 09-2026 11-2026: 0.9%● unchanged vs 10-2026

Financial strength
Weak

30-5equity 5.3% of total assets
36-2short-term debt 37.0% · cash 2.6%
9=return on assets -4.6%

Score breakdown

raises risk
Equity €67.9m (5.3% of total assets)
Liquidity: current ratio 0.71, cash €33.1m
Loss of €58.0m, the second in a row (financial year 2025)
6 establishment units
Calculation

The band follows from the bankruptcy probability. 10 more points roughly halve it.

75-100 Excellent under 0.55%
60-74 Healthy 0.55% to 1.5%
45-59 Fair 1.5% to 4.2%
25-44 Weak 4.2% to 15.0%
0-24 Critical over 15.0%

Where the company stands within its band depends half on the bankruptcy probability and half on how it does against its sector peers (NACE 20, large). It does better than 5% of them on solvency, 38% on liquidity, 10% on profitability and 22% on growth.

The bankruptcy probability was computed on 06-11-2026 by the bankruptcy model of 2 October 2026, which learns from Belgian bankruptcies and reads the registers, the annual accounts and the Belgian Official Gazette.

The probability rests on the annual accounts with balance sheet date 31-12-2025.

Of the companies with a bankruptcy probability in the low class on 30-06-2025, 0.8% went bankrupt within twelve months.

Some facts cap the score, however low the probability. With negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late, the score is Fair at most (59). With two missing filings, it is Weak at most (44). During a judicial reorganisation or at the company's end (bankruptcy, dissolution, liquidation), it is Critical at most (24).

Credit verdict

Credit of up to €4,400,000 on 30-day terms is acceptable

Liquidity is insufficient, with a current ratio of 0.71 (0.89 in 2024), below 1. Short-term debt is 37% and cash 2.6% of total assets. 94.7% of the assets are financed with debt and provisions.

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The scores and ratios are Checked's own calculations, not a credit decision.

Signals

Seven signals.
raises riskneutral
raises risk · Equity €67.9m (5.3% of total assets)
NBB · annual accounts
raises risk · Liquidity: current ratio 0.71, cash €33.1m
NBB · annual accounts
raises risk · Loss of €58.0m, the second in a row (financial year 2025)
NBB · annual accounts
raises risk · 6 establishment units
KBO · seat and establishments
raises risk · Persistent losses
Two consecutive loss-making years (2024 and 2025); equity is also lower. May indicate structural pressure on profitability.
NBB · annual accounts 2025
Net result per financial year
1819202122232425
2018 to 2025 · latest year -€58.0m
raises risk · Weak solvency compared with the sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 9% of 317 sector peers (2025).
NBB · sector comparison
Position among 317 sector peers
Solvency
better than 9%
← weakest strongest →
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 06-07-2026, 25 days ahead of the deadline.
NBB · 5 filings
Deviation from the deadline
2025
25 days early
2024
62 days early
2023
47 days early
2022
68 days early
2021
76 days early
← before the deadline after the deadline →
tick = median of all Belgian filingsring = median in the sector

The company filed its last 5 accounts on average 56 days before the deadline. In the sector (NACE 20), the median for financial year 2024 was 22 days before the deadline, and 26% of those companies filed late.

Searched, nothing found (2)
neutral · Next filing not due yet
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today. The company usually files around 30 May (4 of the last 5 accounts filed within 30 days either side of that date).
Companies Code · seven months
Where today falls in the filing period
07-11-2026 today31-12-2026 year end31-07-2027 deadline
neutral · No strike-offs in the KBO publications
That holds for every publication since 2021.
KBO publications

Board and ownership

VC
Vantage Consulting BV
Chair, Frank Aranzana
HR
HF Routh Consulting LLC
Director, Helen Routh
PM
PJY Management BV
Director, Pascal Juéry
PO
Director
IB
inGENuity BV
Director, Géraldine Nolens
and 2 othersand 3 other shareholders

Shares in 33 companies, including AGFA AUSTRALIA PTY LTD and AGFA CANADA INC

Board & ownership

Recent changes

New independent non-executive director Decatvisory BV appointed, MRP Consulting BV resigned · Permanent representatives: Mark Pensaert and Pascal Juéry · Board meeting of 25-08-2026 · Gazette deed
1 director appointed, 3 resignations, 1 reappointment Resignations: Albert House BV, MRP Consulting BV and Christian Reinaudo · Appointment: inGENuity BV (independent director) · Permanent representatives: Géraldine Nolens and Pascal Juéry · General meeting of 12-05-2026 · Gazette deed
New independent non-executive director MRP Consulting BV appointed, MJP Management Services BV resigned · Permanent representatives: Michel Govaert, Mark Pensaert and Pascal Juéry · Board meeting of 03-06-2026 · Gazette deed
New non-executive director Paul Owsianowski appointed, Klaus Röhrig resigned · Permanent representative: Pascal Juéry · Board meeting of 09-12-2025 · Gazette deed
All 151 events

Comparable companies

same main activity, similar in size and age
Company
Agfa-Gevaert Mortsel €423.3m -12.0% 5.3% 1,420.4
Soudal Turnhout €768.5m 4.0% 26.2% 1,148.1
CAPSUGEL BELGIUM Bornem €307.8m 22.9% 54.9% 473.8
SOLUTIA EUROPE Ghent €436.0m 7.9% 82.3% 333.3
FUJIFILM ELECTRONIC MATERIALS (EUROPE) Beveren-Kruibeke-Zwijndrecht €248.8m 7.7% 70.7% 225
Taminco Ghent €527.2m 14.8% 23.2% 405.3
RECTICEL Brussels €128.3m 5.8% 87.8% 226.5
-10%0%10%20%€50m€500m€5bnAgfa-GevaertEBIT margin

Grey: the largest companies of the sector (chemicals (NACE 20)), without their names. Blue: the sector peers from the table.

These companies have the same main activity as Agfa-Gevaert: manufacture of chemicals and chemical products (NACE 20590). They are comparable in size and age: total assets between €269m and €1.6bn, founded between 1896 and 2003.

Official details

Source: KBO
Status
Active since 10-06-1964Normal situation
Registered office
12 active companies are registered at this address1 started in the 12 months before. Source: KBO register, as of 7 November 2026.
Activity
Manufacture of chemicals and chemical productsNACE 20590
Joint committees
116Chemical industry
207White-collar workers in the chemical industry · annual accounts 2025
Establishment units
2.005.113.1302640 Mortsel, since 01-07-1964
2.005.113.4272640 Mortsel, since 01-07-1964and 4 others
Financial year end
31 December
Peppol
Reachable since 20-11-2020
Company details

Annual accounts 2025

€1.27bn▲ 4.6%
Employeeson 31-12-2025
1,348▼ 19.9%
Filing
Filed on 06-07-2026, 25 days before the end of the filing period
Financials

Companies linked to Agfa-Gevaert

Insights on Agfa-Gevaert

Agfa-Gevaert has existed since 1964. Turnover fell from €2.02bn in 2006 to €910.5m in 2007 and staff from 3,944.6 to 2,648.4 full-time equivalents.

Free Float holds 65.22% of the shares. In 2026, three directors stepped down.

Sources: KBO register, filings at the National Bank, Belgian Official Gazette. Click a figure with a dotted line for the item and the filing.

Key facts about Agfa-Gevaert

What is the company number of Agfa-Gevaert?
The company number of Agfa-Gevaert is 0404.021.727. The VAT number is the same number with BE in front: BE 0404.021.727.
Where is Agfa-Gevaert based?
The registered office is at Septestraat 27, 2640 Mortsel.Company details
What does Agfa-Gevaert do?
According to the KBO register, the main activity is manufacture of chemicals and chemical products (NACE 20590).
What is the legal form of Agfa-Gevaert?
Agfa-Gevaert is a public limited company (NV).
When was Agfa-Gevaert founded?
Agfa-Gevaert was founded on 10-06-1964.
Is Agfa-Gevaert still active?
Yes, Agfa-Gevaert is an active enterprise in the KBO register.
How many employees does Agfa-Gevaert have?
Agfa-Gevaert had an average of 1,420.4 full-time equivalents in financial year 2025, according to the filed annual accounts.Financials
Which joint committee does Agfa-Gevaert fall under?
In its 2025 annual accounts, Agfa-Gevaert states joint committees 116 (Chemical industry) and 207 (White-collar workers in the chemical industry).
What is the turnover of Agfa-Gevaert?
The turnover of Agfa-Gevaert was €423.3m in financial year 2025, according to the filed annual accounts.
Is Agfa-Gevaert profitable?
In financial year 2025, Agfa-Gevaert made a loss of €58.0m.
Where can I find the annual accounts of Agfa-Gevaert?
Agfa-Gevaert filed 79 annual accounts with the National Bank of Belgium, the latest for financial year 2025.
When are the next annual accounts of Agfa-Gevaert due?
Agfa-Gevaert must file the annual accounts for financial year 2026 by 31-07-2027.Timeline

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